1. 529 Plans For College Expenses
Investments in 529 plans to cover college expenses have declined 5.9% over last year –
less than the market has fallen but still of some concern.
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LAW OFFICE OF DAVID PARKER BLOG
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2. NY estates planning isn’t just for your heirs after your death;
your assets also benefit your family while you’re alive,
especially when it comes to giving help with the costs involved
in a child or grandchild going to college. If you have a child or a
grandchild approaching college age, you may want to know that
529 plans are down, but the alternatives are doing even worse.
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LAW OFFICE OF DAVID PARKER BLOG
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3. According to a recent article in the Wall Street Journal,
investments in 529 plans fell an average of 9.5% in the third
quarter and are now down 5.9% this year through Sept. 30. This
marks the biggest decline since the market crash of 2009. Over
the same period, of course, the Standard & Poor's 500-stock
index fell 10%. Also, while the S&P has been fairly flat over
the past five years, the average 529 plan has returned 4.6%, and
accumulated earnings are still tax free.
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LAW OFFICE OF DAVID PARKER BLOG
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4. The 529 plan remains a great instrument for New York asset
protection if you have a future student for whom you need to
plan. That’s particularly so considering the volatility of the
current tax environment and the upcoming election. Whatever
investment vehicle you choose, your help is likely to be even
more important considering that the last five years have seen
tuition and fees increases by as much as 38% for state college
students and 30% for private college students.
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LAW OFFICE OF DAVID PARKER BLOG
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5. Law Office of David Parker
Estate Planning and Elder Law
www.parkertrustlaw.com
